Ethics is a discussion that occurs in any industry and the interesting thing is that the ones discussing ethics are usually the ones with ethics. I'd be curious to see if anyone who has skipped out on making a payment, or a VA that completely disregards any agreements would speak up.
In regards to have a governing body, lawyers have the bar yet this doesn't stop some lawyers from being unethical, doctors have the hippocratic oath yet you hear stories of doctors disregarding treatment of patients, accountants have their governing body yet you still hear of accountants taking money from their clients and on and on it goes.
No matter the industry there will always be people who are unethical and try and cheat the system. It's unfortunate and I'm not completely sure that a governing body will stop those unethical folks from still trying to operate. We as an industry simply need to promote our standards and also let clients have the know the difference by providing tips and insight into the differences between those with standards and those without and at the same time call out those who don't live up to the expected standards for the VA industry.
For those who have ethical standards simply work your business in an ethical manner and you WILL stand out from the others.
My twenty-five cents (inflation!)